GN fell as much as 1.1 percent, making it today’s biggest
loser in the OMX Copenhagen 20 Index. The stock of the Ballerup,
Denmark-based company declined 0.8 percent to 75.10 kroner at
9:35 a.m. local time.

GN, which last week reported second-quarter revenue that
beat analyst estimates, has risen 56 percent this year, making
it 2012’s best performer in the C20 index. The increase reflects
expectations that a restructuring plan will cut costs and that a
new hearing aid line, to be introduced in September, will
succeed, Nordea said today in a note to clients.

The new products will come with “a certain level of
execution risk,” Jesper Bamberger, an equity adviser at Nordea
Copenhagen, said in the note. “After the recent share price
rally there’s no room for disappointments in the coming quarters
and we think it’s time to take home the profit.”

Nordea recommends investors hold the stock after cutting
its rating from strong buy last week.